Netease and HNA to make online travel company JV

HNA has signed a partnership agreement with Netease’s subsidiary Lede Technology in Hangzhou to form a new online travel company.

HNA has signed a partnership agreement with Netease’s subsidiary Lede Technology in Hangzhou to form a new online travel company.

The new JV will specialize in developing an original one-stop online travel platform offering products and services along with itineraries and travel routes designed for users. The JV will also leverage big data analysis, online payment and cloud computing to achieve low-cost on-demand service and accessibility that will help users enjoy a highly efficient smart travel service experience.

Prior to this partnership, HNA and Netease had signed a strategic partnership framework agreement in December last year. Both sides agreed to cooperate in online travel and online finance. The joint venture indicates both sides are taking the opportunity to accelerate their joint development in the online travel market and proactively implementing the agreed partnership.

HNA director Lin Zhang said: “The tourism industry has revolutionized the entire economy of China and the interactive model of mobile online technology has brought revolutionary transport solutions and models to consumers. There has also been a major shift in consumer demand trends among travelers, from traditional sightseeing to a high-class holidays. The new market trend has made integration and innovation all the more necessary for travel companies, and HNA will leverage the internet to optimize its production chain and resources.”

Netease’s vice president cum Lede Technology CEO Rui Fang said: “This partnership is about offering yet another ’internet + service’ solution with the core principles of- integration, sharing, revision and optimization. The biggest winners from these changes will be the customers. Although the OTA industry has been developing at a rapid pace, service quality has not kept pace. Information in the travel industry lacks transparency. Consumer rights are not well protected and customer experiences of OTA products are erratic. Netease strives to be the best online company for user experience and product service. “(Translation by David)